(MENAFN- ProactiveInvestors)
() is progressing its Ancuabe and Nicanda Hill graphite projects in Mozambique and has been granted an ASX trading halt regarding executing agreements to form strategic relationships.
The halt will last until the earlier of the announcement being made or the start of trade on Thursday 14th May 2015.
It recently completed an oversubscribed $12 million placement a Hong Kong cornerstone investor institutional groups and sophisticated investors.
Proceeds will enable Triton to rapidly progress the Definitive Feasibility Study at Nicanda Hill in Mozambique and commence its pre-development early works program.
In April Triton signed a key letter of intent for US$200 million in proposed funding and offtake of 200000 tonnes of graphite concentrate per annum for the Nicanda Hill graphite project with Chinese equity firm and resources trading company Shenzhen Qianhai Zhongjin Group Co. Ltd.
This was in addition to the binding US$2 billion offtake agreement over 20 years with China’s Yichang Xincheng Graphite Co Ltd for TMG.
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